Hub Security secures $15m for growth with new financing

TLDR:

• Hub Security secures $15m through debt refinancing and capital raising.
• Funds will be used for strategic initiatives, product offerings, and growth in the cybersecurity sector.

Hub Security, a leader in cybersecurity, recently announced a successful financial restructuring and capital raising effort, totaling $15m. The company restructured $8m in debt, secured an additional $2m in debt financing, and received $5m from key shareholders through the exercise of warrants. These funds will be used for strategic initiatives, including enhancing product offerings and advancing the Secure Data Fabric roadmap. The company, founded in 2017 by veterans of the Israeli Defense Forces, specializes in developing advanced cybersecurity solutions. CEO Noah Hershcoviz expressed excitement about the financial moves, indicating confidence in the company’s vision. Hub Security plans to use the funds to further its growth in the cybersecurity sector, offering innovative computing appliances and services in over 30 countries to prevent intrusions and combat data theft.